It's Nearly Decision Time for Planting

May 24, 2019 02:27 PM

Grain prices rallied Friday, May 24 on news about continued wet weather in farm country. Corn futures topping $4 with wheat now in the $5 range. Weather officials at NOAA confirming this past year is the wettest on record for much of the corn belt.

Jim McCormick with spoke with AgDay's Clinton Griffiths about the weather market developing in grains and making the right financial decision.

"We saw a lot of volatility last week when these different leaks about this new market facilitation payments came out," says McCormick.  "My best advice to producers out there is you need to get a hold of your insurance guy to find out how your prevent plant will work." 

McCormick says this market is probably only going to get more volatile, not less volatile into the summertime.

"Make sure you look on your farm individually because everyone's going to be a little bit different when going from farm-to-farm, county-to-county and state-to-state," says McCormick.  "The fact of the matter is, we're looking for about 60% of the crop to be planted but coming out of Memorial Day weekend we should be closer to 90%-93% planted."

As grain markets rise on planting issues, now's the time to decide how long to try or just take prevent plant.

"We're getting to the levels where guys are going to have to make the decision," says McCormick. 

Watch the video to hear Jim's entire comments. 

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Spell Check

Holt Co, NE
5/24/2019 05:21 PM

  Think about it what better time than now to get total cooperation from the farming sector to raise grain prices not only this year but also for next year if we would say the hell with planting take the PP payment and watch the city people start complaining because of the increase at the grocery store and now it's taking away from their money that they have to play with. The politicians in DC know that they have to keep the American people with access to cheap food or there will be HELL to pay that is why they are proposing this new round of payments to get us out there and plant.